AEGON N.V. (Exact Name of Registrant As Specified in Its Charter)
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) D REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR l ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2007 OR D TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________to__________ OR D SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-10882 AEGON N.V. (Exact name of Registrant as specified in its charter) Not Applicable (Translation of Registrant’s name into English) The Netherlands (Jurisdiction of incorporation or organization) AEGONplein 50, PO Box 85, 2501 CB The Hague, The Netherlands (Address of principal executive offices) Ruurd A. van den Berg Executive Vice-President Group Finance & Information AEGON N.V. Bezuidenhoutseweg 273, 2594 AN The Hague, The Netherlands +31-70-3448306 [email protected] (Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person) Securities registered or to be registered pursuant to Section 12(b) of the Act. Title of each class Name of each exchange on which registered Common shares, par value EUR 0.12 per share New York Stock Exchange Securities registered or to be registered pursuant to Section 12(g) of the Act. Not applicable (Title of Class) Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act. Not applicable (Title of Class) Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report: 1,636,544,530 common shares Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act l Yes No D If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. D Yes No l Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirement for the past 90 days. l Yes No D Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act l Large accelerated filer D Accelerated filer D Non-accelerated filer Indicate by checkmark which basis of accounting the registrant has used to prepare the financial statements included in this filing D U.S. GAAP l International Financial Reporting Standards as issued by the International Accounting Standards Board D Other If “other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow. D Item 17 DItem 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). D Yes No l AEGON N.V. Form 20-F 2007 TABLE OF CONTENTS Page Item 1 Identity of Directors, Senior Management and Advisors 4 Item 2 Offer Statistics and Expected Timetable 4 Item 3 Key Information 4 Item 4 Information on the Company 16 Item 4A Unresolved Staff Comments 53 Item 5 Operating and Financial Review and Prospects 54 Item 6 Directors, Senior Management and Employees 114 Item 7 Major Shareholders and Related Party Transactions 132 Item 8 Financial Information 135 Item 9 The Offer and Listing 136 Item 10 Additional Information 138 Item 11 Quantitative and Qualitative Disclosure about Market Risk 150 Item 12 Description of Securities other than Equity Securities 165 Item 13 Defaults, Dividend Arrearages and Delinquencies 166 Item 14 Material Modifications to the Rights of Security Holders and Use of Proceeds 166 Item 15 Controls and Procedures 166 Item 16A Audit Committee Financial Expert 168 Item 16B Code of Ethics 168 Item 16C Principal Accountant Fees and Services 168 Item 16D Exemptions from the Listing Standards for Audit Committees 170 Item 16E Purchases of Equity Securities by the Issuer and Affiliated Purchasers 170 Item 17 Financial Statements 171 Item 18 Financial Statements Schedules to the Financial Statements 171 Item 19 Exhibits Signatures 285 PRESENTATION OF CERTAIN INFORMATION AEGON N.V. is referred to in this Annual Report on Form 20-F as “AEGON,” “we”, “us” or “the Company” and AEGON N.V. together with its member companies are together referred to as the “AEGON Group”. For such purposes, “member companies” means, in relation to AEGON N.V., those companies that are required to be consolidated in accordance with legislative requirements of the Netherlands relating to consolidating accounts. References to the “NYSE” are to the New York Stock Exchange. References to the “SEC” are to the Securities and Exchange Commission. In this Annual Report on Form 20-F, references to “EUR” and “euro” are to the lawful currency of the member states of the European Monetary Union that have adopted the single currency in accordance with the Treaty establishing the European Community, as amended by the Treaty on European Union. References to “$,” “USD,” “US$” and “US dollars” are to the lawful currency of the United States of America, references to “GBP,” “pound sterling” and the “UK pound” are to the lawful currency of the United Kingdom, references to “CAD” and “Canadian dollars” are to the lawful currency of Canada and references to “CNY” are to the lawful currency of the People’s Republic of China. 2 AEGON N.V. Form 20-F 2007 FORWARD LOOKING STATEMENTS The statements contained in this Report that are not historical facts are forward-looking statements as defined in the US Private Securities Litigation Reform Act of 1995. The following are words that identify such forward-looking statements: ‘believe’, ‘estimate’, ’target’, ‘intend’, ‘may’, ‘expect’, ‘anticipate’, ‘predict’, ‘project’, ‘counting on’, ‘plan’, ‘continue’, ‘want’, ‘forecast’, ‘should’, ‘would’, ‘is confident’, ‘will’ and similar expressions as they relate to our company. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. We undertake no obligation to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which merely reflect company expectations at the time of writing. Actual results may differ materially from expectations conveyed in forward-looking statements due to changes caused by various risks and uncertainties. Such risks and uncertainties include, but are not limited to the following: • Changes in general economic conditions, particularly in the United States, the Netherlands and the United Kingdom; • Changes in the performance of financial markets, including emerging markets, such as with regard to: o The frequency and severity of defaults by issuers in our fixed income investment portfolios; and o The effects of corporate bankruptcies and/or accounting restatements on the financial markets and the resulting decline in the value of equity and debt securities we hold; • The frequency and severity of insured loss events; • Changes affecting mortality, morbidity and other factors that may impact the profitability of our insurance products; • Changes affecting interest rate levels and continuing low or rapidly changing interest rate levels; • Changes affecting currency exchange rates, in particular the EUR/USD and EUR/GBP exchange rates; • Increasing levels of competition in the United States, the Netherlands, the United Kingdom and emerging markets; • Changes in laws and regulations, particularly those affecting our operations, the products we sell, and the attractiveness of certain products to our consumers; • Regulatory changes relating to the insurance industry in the jurisdictions in which we operate; • Acts of God, acts of terrorism, acts of war and pandemics; • Changes in the policies of central banks and/or governments; • Litigation or regulatory action that could require us to pay significant damages or change the way we do business; • Customer responsiveness to both new products and distribution channels; • Competitive, legal, regulatory, or tax changes that affect the distribution cost of or demand for our products; • Our failure to achieve anticipated levels of earnings or operational efficiencies as well as other cost saving initiatives; and • The impact our adoption of the International Financial Reporting Standards may have on our reported financial results and financial condition. 3 AEGON N.V. Form 20-F 2007 PART I ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS Not applicable ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable 4 AEGON N.V. Form 20-F 2007 ITEM 3. KEY INFORMATION 3A Selected financial data A summary of historical financial data is found in the table below. Our consolidated financial statements are prepared in accordance with International Financial Reporting Standards as adopted by the European Union and with International Financial Reporting Standards as issued by the International Accounting Standards Board (IFRS). Financial data for 2003 has been omitted due to the unavailability of IFRS data for that period. It is important to read this summary in conjunction with the consolidated financial statements and related notes included elsewhere in this Report. All per share amounts have been calculated based on the weighted average number of common shares outstanding after giving effect to all stock dividends through December 31, 2007.